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Enclosure
Fisker Renegotiate DOE Loan Page 1of4
Published EnergyBoom
Fisker Renegotiate DOE Loan
Fisker Renegotiate DOE Loan
Fisker Karma
million conditional loan from the U.S. Department
Energy, DOE.
The loan was contingent Fisker meeting certain production and sales milestones,
Karmas showroom floors r121 and another ,200 languishing the production line.
Fisker's failure comply led the DOE block access further funding, triggering layoff workers Fisker's Wilmington, Delaware manufacturing location and about engineers its Anaheim, California headquarters. The DOE has not said which milestones were missed. far, according report from the company, has received $193 million the total loan package from the DOE, much which went develop and commercialize the Karma, which began appearing late 2011.
2/14/2012
http://www.energyboom.com/print/2443
Fisker Renegotiate DOE Loan Page
The Karma, able run 100 miles single gallon gasoline, could conceivably use
only single tank fuel per year driven less than miles per day and plugged
overnight, according company spokespersons. The Karma costs $87,900 before tax
credits.
When Fisker moved into its Delaware 1131--a former General Motors facility rescued from Brownfield anonymity $11.7 million financial settlement with and retooling the assembly floor -company officials said the company would eventually producing 75,000 100,000 Nina-model vehicles 2014, from
1141 and vendor and supplier staff 3,000.
The Nina another hybrid electric motor with lithium-ion battery backup. When depleted, the car runs generator driven gasoline engine. The Nina's sticker price reported roughly (151
Fisker, headquartered Anaheim, California, with one site Michigan, also received $13 million loan from the state Delaware, and million state grant startup, well $300 million venture capital from backers, one whom was A123 16J (Nasdaq: AONE), which was slated supply batteries for the Karma.
Having failed meet requirements, the company now falls under Congressionalscrutiny triggered not merely missed milestones but also result several other DOE-funded clean energy company failures, notably 1n1 (solar panels), Beacon Power 11a1. (flywheel energy storage), and Ener1 Inc. 1191, supplier lithium-ion batteries for electric vehicles.
When Fisker first arrived the scene, was billed (and celebrated) job creator economy that had very recently seen the meltdown the Three auto makers 1201 the
U.S. Chrysler and both took bailout; Ford slid cash reserves. result, Fisker's presumed failure reverberates through the halls Congress, wary lawmakers look over their shoulders for the next Solyndra and Judicial Watch files 1211
under the Freedom Information Act access records related the DOE loan.
http://www.energyboom.com/print/2443 2/14/2012